• Initial development of Unit 1B in Cuba Block 9 on track
• Alameda-2 workover planned for early February, Amistad-2 drilling to follow
• Melbana subsidiary approved as Operator in Cuba, oil offtake contract terms being finalized

Melbana Energy Limited provided an update on its activities during the quarter ended 31 December 2024. Key highlights include:Cuba Block 9 PSC (Melbana 30%, Operator):- Initial development of Unit 1B on track, with the Alameda-2 workover planned for early February 2025 to remediate near-well formation damage. - Drilling of the Amistad-2 well to target the highest confidence (1C) resource of 16 million barrels is planned to commence immediately after the Alameda-2 workover.- A pre-bid seismic scouting process was completed, with data to be incorporated into the survey design to allow more efficient development and potential extension of the 2C Contingent Resource of 46 million barrels.- Melbana's subsidiary was approved as Operator in Cuba, and the company's engineering and commercial teams continue to progress plans for the export of oil produced from Block 9.Australia:- Melbana continued the process of identifying a farminee(s) to fund a forward work programme (3D seismic survey and contingent drilling option) in the WA-544-P and NT/P87 permits.- Interpretation and mapping of the reprocessed 500 km2 Pantheon 3D survey in the AC/P70 exploration permit progressed during the quarter.The company had $9.7 million in cash available at the end of the quarter.